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Foreclosure Prevention

If you are having difficulty making your mortgage payment, one of the most important things you can do is seek assistance. Taking action now can help you protect your family from the loss of your home. The following page was created to help you find advice, information, and web links that will help you keep your home.

Exchange Bank continues to make prudent attempts to find solutions for homeowners having trouble making their mortgage payments. If you cannot afford your monthly mortgage payments and wish to avoid foreclosure, you may be eligible for a loan “workout” or modification. We determine eligibility for loan “workouts” on a case–by–case basis. Among other things, we will consider the value of your property and your ability (based on your current income) to make monthly mortgage payments in accordance with the “workout”. You may also qualify to refinance your current loan with us.

If you are interested in exploring any of the options listed above, you will need to provide us with certain financial information, including the following:

  • Your most recent pay stub
  • List of current monthly expenses
  • Your most recent tax return
  • Bank statements
  • A current valuation of your property such as an appraisal, if available

If you would like to discuss your options to avoiding foreclosure with us, please call our Home Loan Department at 800.995.4066 or locally in Sonoma County, 707.524.3090.

You may also contact the Department of Housing and Urban Development (HUD) to find a HUD–certified housing counseling agency by calling 800.569.4287. The following additional resources provide information and links to agencies and organizations that may be able to help you:

KYHC  Keep Your Home California
HUD    US Dept. of Housing and Urban Development
FDIC   Federal Deposit Insurance Corp.
FRB    Federal Reserve Board